1. BITBILIHome
  2. Article

Binance CEO reveals ban on futures trading for staff, amid insider trading claims

• 136 views

TL;DR Breakdown

  • Changpeng Zhao, the CEO of Binance, has revealed that all employees of Binance, including himself, are now barred from participating in futures trading.

Description

Changpeng Zhao, the CEO of Binance, has revealed that all employees of Binance, including himself, are now barred from participating in futures trading. The move is a part of the cryptocurrency exchange’s ongoing endeavors to prioritize integrity and prevent potential conflicts of interest within its workforce. Binance prohibited from futures trading Zhao revealed that the … Read more

Changpeng Zhao, the CEO of Binance, has revealed that all employees of Binance, including himself, are now barred from participating in futures trading. The move is a part of the cryptocurrency exchange’s ongoing endeavors to prioritize integrity and prevent potential conflicts of interest within its workforce.

Binance prohibited from futures trading

Zhao revealed that the exchange’s employees, including him, are prohibited from futures trading, and the product testing team has a specially assigned quota account. However, he revealed that they hold.  

The exchange’s policy requires employees to maintain positions for 90 days before trading, promoting long-term cryptocurrency investments. The company has established an internal security team to monitor employee trading across multiple platforms to enforce these guidelines.

Any employee found violating these rules will face termination. Zhao’s tweet and announcement of these internal rules demonstrate the exchange’s commitment to fostering accountability and responsible trading. By deterring futures trading and closely monitoring employee activities, it aims to strengthen its reputation as a reliable and trustworthy cryptocurrency exchange.

Zhao’s announcement demonstrates a significant stride towards transparency, accountability, and ethical conduct within the cryptocurrency exchange. This self-regulation sets a precedent for responsible business practices in the digital asset world.

Recently, Binance froze more than $2 million due to a suspected insider trading controversy. The catalyst for this action was a tweet from Fat Man Terra, a well-known cryptocurrency trader and influencer, who raised allegations that Binance had facilitated insider trading activities on its platform.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions. 

文章来源于互联网:Binance CEO reveals ban on futures trading for staff, amid insider trading claims

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月19日 09:29
Next 2023年8月19日 11:04

Related articles

  • Pepe price analysis: PEPE market surges as bullish activity takes the lead

    TL;DR Breakdown Pepe price analysis shows a bullish market sentiment. PEPE is trading at $0.000001493, up by 2.39 percent. Resistance for PEPE is present at $0.000001523. The recent Pepe price analysis shows an increase in market activity, with PEPE trending upwards over the past 24 hours. PEPE’s price action has been relatively bullish, having established a new daily high of $0.000001523. PEPE is trading at $0.000001493, up by 2.39 percent from its 24-hour low of $0.000001428. The support level for PEPE is currently at $0.000001430, while the resistance level is at $0.000001523. The support level is acting as a buffer for PEPE’s price action, but it is also important to note that the market sentiment remains bullish. The resistance level is also providing a barrier to the upward trend, which could signal a potential reversal in the near future if the selling pressure persists. The market capitalization for PEPE is currently at $585 million USD, up by 2.42 percent from its yesterday’s close. The trading volume for the past 24 hours has reached a peak of $132 million USD, with…

    Article 2023年5月30日

  • ECB raises interest rates to record high in an effort to cool consumer prices

    TL;DR Breakdown The European Central Bank (ECB) has raised interest rates to a record high, marking the 10th consecutive increase. This rate hike comes as the eurozone economy faces challenges, including slowing bank lending, a cooling labor market, and falling inflation. ECB President Christine Lagarde mentioned that she has left the possibility of a further rate hike open. Description The European Central Bank (ECB) has taken a bold step by raising interest rates to an unprecedented level, aiming to control consumer prices. This decision, reached during the governing council’s meeting in Frankfurt on Thursday, marked the 10th consecutive increase, with the deposit rate raised by 25 basis points to 4 percent. It’s worth noting … Read more The European Central Bank (ECB) has taken a bold step by raising interest rates to an unprecedented level, aiming to control consumer prices. This decision, reached during the governing council’s meeting in Frankfurt on Thursday, marked the 10th consecutive increase, with the deposit rate raised by 25 basis points to 4 percent. It’s worth noting that this move occurred simultaneously with officials revising…

    Article 2023年9月15日

  • PayPal’s PYUSD stablecoin debuts on Kraken, set to Trade from August 21

    TL;DR Breakdown PayPal’s PYUSD, a US dollar stablecoin, has been officially launched on the Kraken platform. Starting August 21, PYUSD will be available for trading on Kraken. Users can fund their Kraken accounts with PYUSD via the Funding tab, but only deposits made on the Ethereum network are accepted. Description PayPal’s US dollar stablecoin, PYUSD, has officially debuted on the Kraken platform. Consequently, users can now make deposits and withdrawals using PYUSD, as outlined in the announcement. Significantly, the stablecoin will be available for trade on Kraken starting August 21. The addition of PYUSD trading on Kraken marks a major milestone in the cryptocurrency world. … Read more PayPal’s US dollar stablecoin, PYUSD, has officially debuted on the Kraken platform. Consequently, users can now make deposits and withdrawals using PYUSD, as outlined in the announcement. Significantly, the stablecoin will be available for trade on Kraken starting August 21. The addition of PYUSD trading on Kraken marks a major milestone in the cryptocurrency world. To fund their Kraken accounts with PYUSD, users can navigate to the Funding tab, select the asset,…

    Article 2023年8月20日

  • Cameron Winklevoss ignites crypto regulatory firestorm on DCG

    Description A formidable storm is brewing in the cryptocurrency sector. At the eye of this storm stands Cameron Winklevoss, co-founder of the crypto firm Gemini Trust Co, and his allegations against the Digital Currency Group (DCG) and its trailblazing founder, Barry Silbert. The accusations? Misrepresentation of the financial state of DCG’s lending subsidiary, Genesis, which declared … Read more A formidable storm is brewing in the cryptocurrency sector. At the eye of this storm stands Cameron Winklevoss, co-founder of the crypto firm Gemini Trust Co, and his allegations against the Digital Currency Group (DCG) and its trailblazing founder, Barry Silbert. The accusations? Misrepresentation of the financial state of DCG’s lending subsidiary, Genesis, which declared bankruptcy earlier this year. And with Gemini emerging as the most significant creditor to the now-bankrupt Genesis, the stakes couldn’t be higher. Federal Authorities Dive Deep Into Winklevoss’s Allegations The heat of the matter has grabbed the attention of federal authorities. They’re currently diving deep into Winklevoss’s claims, searching for truth amidst the haze. This move follows Winklevoss’s assertions that DCG and Silbert, in what might…

    Article 2023年9月9日

  • Azuki NFTs massive crash: What went wrong with the ‘Elementals’ launch?

    TL;DR Breakdown Azuki’s new ‘Elementals’ NFT collection sparked controversy for alleged similarity to their original collection, causing a 44% drop in Azuki’s NFT value. Critics accuse Elementals of being a cheaper version of Azuki’s original collection, despite initial marketing suggesting a unique brand story. The backlash led to a market upheaval with a 400% surge in Azuki NFT sales and a steep price drop, while Elementals’ floor prices dropped by 55%. Description Yesterday, the NFT world was rocked by a significant market fluctuation when the floor price of Chiru Labs’ renowned Azuki NFT collection plunged by a striking 44%. However, this dramatic downturn was linked to the release of the company’s latest collection, ‘Elementals‘, which was met with substantial backlash from holders and market observers​. The Azuki … Read more Yesterday, the NFT world was rocked by a significant market fluctuation when the floor price of Chiru Labs’ renowned Azuki NFT collection plunged by a striking 44%. However, this dramatic downturn was linked to the release of the company’s latest collection, ‘Elementals‘, which was met with substantial backlash from holders…

    Article 2023年6月30日
TOP